ICICI Prudential Life Insurance Company will hit the market with Rs 6,000 crore initial public offering (IPO) on September 19, the first by an insurer in India and also the biggest in six years.

“The offer will open for subscription on September 19 and shall close on September 21,” ICICI Bank said in a BSE filing. “We wish to inform you that the price band has been fixed between Rs 300 to Rs 334 per equity share.”

The public offer comprises up to 18,13,41,058 equity shares of ICICI Prudential Life Insurance Company. The offer includes a reservation of up to 1,81,34,105 equity shares (10 per cent of the offer) for the shareholders of ICICI Bank.

The offer would constitute 12.63 per cent of the company’s post-offer paid-up equity share capital and the net offer shall constitute 11.37 per cent of the post-offer paid-up equity share capital.

The company, which filed the draft red herring prospectus with the Securities and Exchange Board of India (SEBI) on July 18, got the regulator’s approval on September 2. ICICI Bank has around 68 per cent stake in the insurer, while Prudential has 26 per cent.

This would be the biggest initial public offering after Coal India WHICH had hit the capital market in 2010 to raise over Rs 15,000 crore.

ICICI Bank sold nearly 6 per cent stake in ICICI Prudential to Temasek and PremjiInvest in November 2015. The shares were offloaded for around Rs 1,950 crore valuing the insurer at Rs 32,500 crore. PremjiInvest holds 4 per cent in the insurance company while Temasek owns 2 per cent in the firm.